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CHUBB REPORTS RESULTS

 CHUBB REPORTS RESULTS
 WARREN, N.J., July 23 /PRNewswire/ -- The Chubb Corporation


(NYSE: CB) today reported that net income for the six months ended June 30, 1992, was $273.5 million or $3.10 per share compared with $261.3 million or $3.02 per share for the like period of 1991. These amounts include realized investment gains after taxes of $23.4 million or $.26 per share in 1992 and $12.4 million or $.14 per share in 1991.
 Net income for the second quarter of 1992 was $130.4 million or $1.48 per share compared with $133.0 million or $1.52 per share for the second quarter of 1991. Net income for the quarter includes realized investment gains after taxes of $8.0 million or $.09 per share in 1992 and $8.2 million or $.09 per share in 1991.
 Property and casualty underwriting income after taxes amounted to $8.9 million for the first six months of 1992 compared with $12.6 million in 1991. Net premiums written were $1.6 billion in 1992, an increase of 3.3 percent compared with 1991. The combined loss and expense ratio was 98.9 percent for the first six months of 1992 compared with 98.6 percent for 1991. The second quarter combined loss and expense ratio was 99.7 percent in 1992 compared with 98.5 percent in 1991. Catastrophe losses in the second quarter of 1992 amounted to $42.4 million which represented 5.4 percentage points of the combined loss and expense ratio compared with $14.8 million or 2.0 percentage points in 1991. Catastrophe losses for the first six months of 1992 amounted to $46.1 million or 3.0 percentage points of the combined loss and expense ratio compared with $23.0 million or 1.5 percentage points in 1991.
 Property and casualty investment income after taxes was $205.6 million for the first six months of 1992 compared with $196.1 million in 1991, an increase of 4.8 percent.
 Life and health insurance operations resulted in income after taxes of $27.0 million for the first six months of 1992 compared with $26.3 million in 1991.
 Real estate operations contributed income after taxes of $6.5 million in the first six months of 1992 compared with $13.6 million in 1991.
 THE CHUBB CORPORATION
 (In millions)
 Periods ended Second Quarter Six Months
 June 30 1992 1991 1992 1991
 Net Income $130.4 $133.0 $ 273.5 $ 261.3
 Per Share 1.48 1.52 3.10 3.02
 Property and Casualty:
 Net Premiums Written 861.8 824.7 1,614.1 1,562.4
 Underwriting Inc. After Taxes 0.2 5.6 8.9 12.6
 Investment Inc. After Taxes 104.0 98.1 205.6 196.1
 Combined Loss and Expense
 Ratio (pct) 99.7 98.5 98.9 98.6
 Life and Health Income After
 Taxes $ 14.8 $ 14.3 $ 27.0 $ 26.3
 Real Estate Income After Taxes 3.0 6.1 6.5 13.6
 Realized Investment Gains After
 Taxes 8.0 8.2 23.4 12.4
 Property and Casualty Product Mix
 (In millions)
 Net Premiums Combined Loss and
 Written Expense Ratios
 (pct)
 Six months ended June 30 1992 1991 1992 1991
 Personal Insurance:
 Automobile $ 93.6 $ 97.2 98.3 105.8
 Homeowners 206.2 212.1 97.0 103.1
 Other 93.8 98.4 90.2 90.8
 Total 393.6 407.7 95.6 100.8
 Standard Commercial Insurance:
 Multiple Peril 242.6 240.0 107.5 108.7
 Casualty 247.0 235.1 96.8 89.7
 Workers' Compensation 77.3 87.0 121.0 130.8
 Total 566.9 562.1 104.7 103.6
 Specialty Commercial Insurance:
 Fidelity and Surety 285.6 254.7 83.7 81.6
 Other 289.9 257.4 96.7 97.5
 Total 575.5 512.1 90.0 89.3
 Reinsurance Assumed 78.1 80.5 138.2 113.3
 Total $1,614.1 $1,562.4 98.9 98.6
 Effective Jan. 1, 1992, the mix of business reinsured with the Sun Alliance Group plc was changed. Chubb increased its retention of certain specialty classes of business and decreased its retention of all other classes of business in which the Sun Group participates.
 The product mix also reflects certain reclassifications to present results in a manner consistent with the way the property and casualty business is managed. Prior period amounts have been restated to conform with the new presentation. Total amounts are not affected.
 The interim amounts are unaudited but include those adjustments, consisting of normal recurring items, which management considers necessary for a fair presentation.
 -0- 7/23/92
 /CONTACT: Gail E. Devlin, 908-580-3245, or Glenn A. Montgomery, 908-580-2365, both of Chubb/
 (CB) CO: The Chubb Corporation ST: New Jersey IN: INS SU: ERN


GK -- NY021 -- 2317 07/23/92 09:28 EDT
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Date:Jul 23, 1992
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